Raymond James Has Negative View of TSE:MRE FY2024 Earnings

Martinrea International Inc. (TSE:MRE) – Equities researchers at Raymond James decreased their FY2024 earnings estimates for shares of Martinrea International in a research report issued to clients and investors on Wednesday, November 13th. Raymond James analyst M. Glen now forecasts that the company will post earnings per share of $1.95 for the year, down from their prior forecast of $2.00. The consensus estimate for Martinrea International’s current full-year earnings is $2.50 per share. Raymond James also issued estimates for Martinrea International’s Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $0.60 EPS, Q3 2025 earnings at $0.61 EPS, Q4 2025 earnings at $0.56 EPS and FY2025 earnings at $2.33 EPS.

Several other research firms have also weighed in on MRE. CIBC lowered their price objective on shares of Martinrea International from C$17.00 to C$14.50 in a research note on Thursday. BMO Capital Markets lowered their price objective on shares of Martinrea International from C$15.00 to C$13.00 in a research note on Thursday. Finally, TD Securities lowered their price objective on shares of Martinrea International from C$18.00 to C$13.00 in a research note on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Martinrea International presently has an average rating of “Moderate Buy” and a consensus target price of C$15.75.

Martinrea International Stock Up 1.7 %

Martinrea International stock opened at C$9.81 on Friday. The company has a debt-to-equity ratio of 83.13, a quick ratio of 0.68 and a current ratio of 1.25. Martinrea International has a 52-week low of C$9.52 and a 52-week high of C$14.59. The firm has a 50 day moving average price of C$11.16 and a two-hundred day moving average price of C$11.40. The firm has a market cap of C$733.89 million, a price-to-earnings ratio of 5.42, a PEG ratio of 0.82 and a beta of 2.08.

About Martinrea International

Martinrea International Inc engages in the design, development, and manufacturing of engineered, value-added lightweight structures and propulsion systems worldwide. It offers lightweight structure products, including knuckles/control arms/links; subframes integral/fabricated products; complex assemblies; body structures; exterior trims; and trailer hitches.